BUDAPEST: Hungarian oil group MOL said on Friday it was prepared to sell its stake in Croatian peer INA, which is at the centre of a wrangle with the Croatian government.
A meeting of Croatian and MOL officials earlier on Friday made little headway in talks in which Croatia aims to claw back influence in INA, one of its largest companies and biggest employers, after MOL bought nearly 50 percent of it.
"The Company's Board of Directors authorized the Executive Board to conclude an agreement with the Croatian Government that can lead to value creation through the execution of INA's growth strategy," MOL said in a statement.
"However, the Executive Board is also authorized to start the preparations for the sale of MOL's stake in INA in order to be able to maximize the value of its investment," it added.
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